NEWPORT BEACH, Calif., April 15 /PRNewswire/ -- Pacific Gulf Properties
Inc. (NYSE: PAG) has achieved its 60-day targeted occupancy rate of 95% at its
newly developed residential community for active seniors, The Fountains at
Rancho Santa Margarita. Since residents began taking occupancy in early
February of this year, The Fountains has experienced a great deal of activity,
evidenced by how quickly it has become occupied.
"We are very pleased with the level of interest shown by the active senior
community in The Fountains, and the Pacific Gulf staff intends to put forth
its best efforts to provide residents of The Fountains with an atmosphere that
is comfortable and enjoyable," remarked Kimberly G. Brown, Vice President of
Apartment Operations for Pacific Gulf.
Pacific Gulf Properties Inc., a self-administered and self-managed equity
real estate investment trust, owns, operates, leases, acquires, rehabilitates
and develops industrial and multifamily properties located in selected markets
within the western United States.
SOURCE Pacific Gulf Properties Inc.
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CONTACT:
Cindy L. Smith, Investor Relations of Pacific
Gulf Properties Inc., 714-223-5000 or 800-PGP-1909
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